Maintenance payment protection
Following a divorce, have you considered how you would manage if the maintenance payments you receive for your children or yourself suddenly stopped?
During a divorce or separation, it is common to set up legal arrangements for maintenance payments whether it be spousal or child maintenance payments, but many people overlook protecting those payments in the event of the payer’s serious illness or death. If the person making the maintenance payments suddenly died or became seriously ill, these payments could stop.
At Birkett Long IFA, our independent financial planning managers will advise on the solutions available. Often some life assurance protection and critical illness cover is arranged on the person making the maintenance payments.
The most common type of life assurance used for this arrangement is provides an income should the person paying the maintenance payments die or develop a critical illness. We can assess your requirements under our protection advisory service.
To discuss this type of arrangement in more detail please contact Nicola Ward for a free initial consultation on 01206 217308.
- Nicola Ward
- Associate and Head of Birkett Long IFA LLP
- Paul Chilver
- Associate, Financial Planning Manager
We often work with Birkett Long legal services to find the right solution for maintenance payment protection, when a client who is going through a divorce.
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